Learn the strategic influences of customer price acceptance in this Online Pricing Course with Tim Smith, CPP.
Obtain valuable pricing strategies, access to industry publications, research and more resources for pricing professionals around the globe. The Professional Pricing Society's online education offerings are taught directly from leading pricing experts from around the world. Take an on-demand course from anywhere in the world, at any time!
Every PPS Online Course qualifies as one (1) CPP Credit towards a CPP Designation.
Influencing Customer Price Acceptance With Tim SmithWorkshop Details: Why is raising prices so difficult but lowering prices so easy? What can marketing communications and sales do to improve price capture? What kinds of switching costs affect pricing? Why do prices end in nines? Why do mattress salesmen show customers outrageously expensive beds first prior? Why are price cuts easy but price increases hard? How do customers think about prices and what can a company do to influence their expectations positively? In the "Influencing Customer Price Acceptance" Online Course, Tim Smith will explore over 17 different economic, perceptual, behavioral, psychological, and neurological influences to customer price perception. Some factors can be influenced by the actions of sellers, others are inherent within buyers, and still, others are impacted by competitors. All are important in understanding and influencing customer price acceptance. Course Benefits: This Online Course addresses pricing issues in business and consumer markets, appropriate for pricing, marketing, sales, and senior executives. Attendees Will Learn:
- Hidden economic effects influence customer purchase behavior and price perceptions
- Customer perception challenges that influence how customers perceive prices
- Why prospect theory accurately predicts challenges customers have in making rational tradeoffs between price and value
- How anchoring and slow adjustment drive price expectations
- Implications of Prospect Theory in consumer behavior, including anchoring, endowment effects, framing, and more.
- How trust is defined within the buyer’s mind.